This comes after the investor, Bosai Mineral Group from China, has formally written to government over its decision to sell 80 percent of its stake in the company and exit. According to the report, the Chinese firm made its decision to exit Ghana as a result of the non-renewal of its mining lease with the GBCL which is expected to expire in January 2022. But the establishment of a new mine is said to take up to a year to develop while some workers of the company have urged government to swiftly find a new strategic investor of the mine. The Chinese investor upon taking over the mine has increased production from 600,000 tonnes to around 1.4 million tonnes. It has also, through diverse ways, boosted the fortunes of company with huge profit recorded of US$4 million recorded in 2019 and US$ 6 million recorded in 2020.

Source: GhanaWeb August 17, 2021 12:11 UTC